BAKU, Azerbaijan, July 15. The first meeting
under the OPEC+ Charter of Cooperation is underway in Baku,
Trend's correspondent
reports from the event.
OPEC+ (the Organization of the Petroleum Exporting Countries and
non-OPEC countries participating in the Declaration of Cooperation,
or DoC) operates under the Declaration of Cooperation signed on
Dec. 10, 2016. The agreement brought together 13 OPEC member
countries and 11 non-OPEC producers, including Azerbaijan.
The agreement took effect on Jan. 1, 2017, and provides for
voluntary oil production adjustments aimed at stabilizing the
global oil market. To monitor compliance with the agreement, the
Joint Ministerial Monitoring Committee (JMMC) was established. The
committee continues to assess conditions in the global oil market
and monitor participating countries' compliance with their
commitments.
Will be updated
